The court properly understood the federal court ruling and its affirmance in a related action as precluding plaintiffs' fraud claim herein. Upon our review of the record, we find plaintiffs' other claims are similarly precluded since they arose from the same series of transactions between the parties, involved the same issues, and were necessarily determined. Collateral estoppel precludes reassertion of the same wrongs under a different legal theory (see Rand v Texaco...
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